Ether (ETH) Market Overview

Ether (ETH) is testing levels not seen since November 2023, impacted by volatility from U.S. President Donald Trump’s trade war threat.

Market Performance

ETH is down 15% in the last 24 hours, according to CoinDesk Indices data. This decline has also affected the CoinDesk 20, which measures the largest digital assets, resulting in a 16% drop.

Over the past three months, Ether’s decline has been attributed to:
– Bearish investor sentiment
– Underperformance relative to BTC
– Weak institutional demand
– Macro headwinds such as trade war fears, inflation concerns, and stock market weakness, dampening risk appetite.

Liquidations and Predictions

According to CoinGlass data, nearly $165 million in ETH long positions have been liquidated in the last 12 hours. Meanwhile, bettors on Polymarket are estimating a 76% chance that Ether will hit $1900 by the end of the month.

ETF Outflows

Ether ETF outflows were significantly negative last week, with a total of -$335 million, based on data from SoSoValue.